US grain futures rebounded on Monday from last week's sell-off, with wheat surging 4 percent, its biggest gain in more than a month as hot weather baked the bread baskets in the United States and Europe. Corn futures rose about 3 percent and soyabeans less than 1 percent amid a broad commodities rally after last week's biggest drop in prices since 2008.
Wheat for July delivery settled 31 cents higher at $7.90-1/2 per bushel at the Chicago Board of Trade. CBOT July corn climbed 21-1/4 cents to $7.07-1/2 per bushel, the biggest one-day bounce since April 29 after last week posting its largest weekly decline in eight months
CBOT July soyabeans ended 9 cents higher at $13.35, following gains in corn and crude oil. But soyabean trading volume was lowest since November 26, 2010. USDA late on Monday will release planting progress reports for corn and soyabeans and update conditions for the HRW wheat crop.
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